• ENA shows mixed momentum after recent weekly gains.
• Market volume declines despite a short-term recovery.
• The 2025 trend remains largely bearish compared to 2024.
• Key resistance at $0.55 will decide the next market move.

Ethena (ENA) remains on a downward trajectory, extending its recent losses as bearish sentiment dominates the market. Over the last 24 hours, the token has fallen by nearly 3.34%, deepening its weekly decline to over 21%.

At the time of writing, the token is trading at $0.4386, reflecting weakened investor confidence and fading momentum. The 24-hour trading volume stands at $438.64 million, down 17.12%, suggesting reduced activity and participation. Similarly, the market capitalization has slipped to $3.13 billion, recording a 3.31% decrease over the same period.

Also Read: Ethena Price Prediction: Could ENA Reach $5 Target in Coming Days?

2025 Weakness Contrasts Sharply with 2024 Strength

The chart shows a clear difference between 2024 and 2025 in overall market performance. In 2025, the trend remained mostly bearish with repeated declines through the early months. A short-lived mid-year recovery failed to maintain momentum, and losses returned soon after. Overall, 2025 reflects a weak and unstable market environment.

In contrast, 2024 delivered stronger and more consistent results throughout the year. After early weakness, the market showed solid recoveries and sustained growth in later months. Positive momentum outweighed mid-year declines, keeping sentiment bullish. Overall, 2024 closed with stability and strong upward momentum.

ENA Tests Critical Levels as Market Awaits Breakout Confirmation

Crypto analyst highlighted that the ENA’s chart indicates early stabilization after a sharp move. The token established a short-term base close to $0.38, which has always been a very strong support area.

The recent bounce indicates fresh buying interest and the possibility of a short-term bounce. However, the structure remains weak while the token stabilizes in the range $0.38 and $0.55, hoping for a breakout confirmation.

If the token breaks above the $0.55 resistance, sentiment may switch bullish, aiming for the $0.78–$0.80 area. Continued strength may even unlock the area $1.00 and $1.30 in the months ahead. On the other hand, a lack of strength staying above $0.38 may cause fresh selling, returning the token to $0.25–$0.27.

For the moment, the ENA finds itself at a very key juncture in the charts in which supportability above the level will determine whether its upside reversal prolongs or disappears once more.

Also Read: Ethena Labs Partners With Solana’s Jupiter to Launch JupUSD, ENA Set to Hit $0.74